There's an industry lesson to be considered from last week's production crash at Nissan Motor Co. But it's not the obvious one.
Nissan lost about 20,000 vehicles from its production schedules in Tennessee, Mississippi and Japan because it couldn't get enough fuel-injection control units from Hitachi Ltd.
Hitachi couldn't make the controllers because it couldn't get enough semiconductors from Swiss supplier STMicroelectronics NV. STMicroelectronics couldn't supply enough semiconductors because everybody and his brother are now clamoring for more at the same time.
The obvious lesson here is that the industry -- and the planet -- needs more semiconductor production capacity.
But that's not the real lesson.